Trust & Estate Planning

“Trusts will still be necessary to estate planning because trusts are not solely created for tax reasons.”

Planning is a critical component of a wealth management plan. Planning when your kids are young will be different from planning when your kids are established and can manage wealth. Because wealth management is a continuously evolving process, we highly recommend that you build a team of advisors, including your CPA, attorney, and wealth manager, that will be with you during the journey to provide expert advice and help you understand your options and build your plan accordingly.  

Given the lifetime estate and gift tax exclusion is now over $5 million, you may wonder whether estate planning is useful and whether trust will continue to be necessary? The answer is unequivocally, “yes.” Trusts will still be necessary to estate planning because trusts are not solely created for tax reasons. Trusts will continue to be necessary when you have minor children, or heirs that are immature or otherwise unable to manage an inheritance. Trusts are also useful to plan for the modern family that includes children from multiple marriages.

Here is what you can expect when you engage us to provide you with trust and estate planning services . . .

• We will gain an understanding of your unique needs and family situation;
• We will help you organize your thoughts so that you are ready to meet with your attorney and discuss your estate strategy;
• We will work closing with your attorney and wealth manager to stay abreast of changing life conditions and their impact on your overall plan; and
• If you have an existing trust, we will help you review and analyze the provisions so that you can evaluate whether it meets your current needs.

For more information, please call us at (775) 828-5027 or send us an email.